Place/Date: Zug, Switzerland - December 31st, 2017 at 11:10 am UTC · 3 min read
TransCrypt aims to make cryptocurrency equally available to everyone from a top financial broker to every grandma in the neighborhood. Invest earnings in bitcoins, use altcoins to buy coffee, jeans, or plane tickets, pay taxes in cryptocurrency. How? With TransCrypt – a universal payment system for individuals and businesses.
The app will allow users to handle all the transactions as easily as sending “hi” in a chat. TransCrypt is based on the Telegram messenger – all of the contacts and message history are already there, so users don’t need to keep both apps. What’s more, clients can add their cryptowallets and credit cards.
By the end of 2019, startup plans to introduce all the key functions for major retailers and let customers pay for goods and services right in the chat. Due to built-in free conversion retailers won’t need to worry about their balances – they will receive payments in dollars, euros, or any other national currency of their choice. The team believe this will significantly increase cryptocurrency turnover all around the world.
“Cryptocurrency is already an essential part of our lives. It is a tool that everyone wants to use every day. And it should not be as hard to understand as a Noble Report for instance. People simply don’t need that. They don’t want another obscure app on their smartphone” says Nick Machulis, Chief Executive of TransCrypt.
“User convenience is more important to us than our ego. So we have decided to combine advanced technologies in one simple app, which allows customers to discuss, make a deal, and pay for the purchase in one window. Soon it will be OK to solve all the financial tasks in couple of minutes,”
The main issue for the team is to improve the user’s experience. To let people forget about expensive, complex, and time-consuming transactions. Thanks to the ability to buy, sell, and convert crypto- and national currencies within the interface of a familiar messenger, TransCrypt will become an easy-to-use tool both for the sophisticated investor and for adherents of traditional financial solutions.
The public beta will be released in the second quarter of 2018, and will let users send, receive and convert cryptocurrency in the chat window. Cryptocurrency purchase and worldwide fiat transactions will be implemented within the year. At launch, Bitcoin, Bitcoin Cash, Ethereum, and Litecoin operations will be available through the app, and by the end of the year the company plans to extend this list to 50 currencies.
Disclaimer Transcrypt is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest